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Marc Meyohas

September 25, 2014

A UK family office is tipped to buy British airline Monarch and turnaround the struggling company.

A UK family office is tipped to buy British airline Monarch and turnaround the struggling company.

Greybull Capital is the preferred bidder to buy the company, whose profits for the last year sat at £5.9 million, while previous year the company made a loss of £33.4 million.

It is majority owned by Swiss-Italian family the Mantegazzas.

Already staff at the airline have a agreed to a 30% pay cut to secure the airline’s future, and a further 900 workers look set to lose their jobs.

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